The efficient markets hypothesis implies that all mutual funds should obtain the same expected risk-adjusted returns. Therefore,

Question:

The efficient markets hypothesis implies that all should obtain the same expected risk-adjusted returns. Therefore, we can simply pick at random. Is this statement true or false? Explain.

Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...